LIFT raises C$20 million in public offering

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THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS ARE ACCESSIBLE THROUGH SEDAR+, OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE.

VANCOUVER, British Columbia, Aug. 04, 2026 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“ LIFT ” or the “ Company ”) ( TSXV: LIFT ) ( ASX: LFT ) ( OTCQX: LIFFF ) ( Frankfurt: WS0 ) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead underwriter and sole bookrunner on behalf of itself and a syndicate of underwriters (collectively, the “ Underwriters ”), in connection with a “bought deal” public offering of 6,900,000 common shares of the Company (the “ Offered Shares ”) at a price of C$2.90 per Offered Share (the “ Offering Price ”) for gross proceeds of C$20,010,000 (the “ Offering ”).

The Company has also granted the Underwriters an option (the “ Over-Allotment Option ”) exercisable, in whole or in part, at any time and from time to time, within 30 days after the closing of the Offering, to purchase up to that number of additional Offered Shares at the Offering Price equal to 15% of the number of Offered Shares issued pursuant to the Offering.

The Company is party to an investor rights agreement which provides Avenir Minerals Limited (“ Avenir ”) with certain rights, including a right to participate in certain equity financings of the Company. The Company will provide the necessary notice to Avenir in accordance with the terms of such investor rights agreement and anticipates that Avenir will participate in the Offering.

The Company intends to use the net proceeds from the Offering to fund the estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement and for working capital, all as will be more particularly described in the Prospectus Supplement (as defined below).

The closing of the Offering is expected to occur on or about August 12, 2026 and is subject to certain conditions, including but not limited to the receipt of all necessary approvals including the conditional acceptance of the TSX Venture Exchange (the “ TSXV ”).

The Offered Shares will be offered publicly in all provinces and territories of Canada (other than Québec) by way of a prospectus supplement (the “ Prospectus Supplement ”) to the Company’s short form base shelf prospectus dated November 14, 2025 (the “ Base Shelf Prospectus ”) and may be offered on a private placement basis to “qualified institutional buyers” in the United States pursuant to Rule 144A or such other available exemptions from registration under the U.S. Securities Act (as defined below) and in such other jurisdictions outside of Canada and the United States, which shall include Australia, pursuant to exemptions from prospectus and registration requirements, and in all cases in compliance with applicable securities laws.

The allotment of the Offered Shares will fall within the Company’s 15% placement capacity under Australian Securities Exchange Listing Rule 7.1.

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to such documents is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus, and any amendment to such documents may be obtained, without charge, from Canaccord Genuity Corp., by phone at (416) 869-3052 or by e-mail at ecm@cgf.com, by providing the contact with an email address or address, as applicable.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or the securities laws of any state of the United States, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States or in any jurisdiction in which such offer, solicitation or sale is not permitted.

For further information, please contact:

Francis MacDonald Chief Executive Officer Tel: + 1.604.609.6185 Email: investors@li-ft.com Website: www.li-ft.com

This release is authorised by the Board of Directors of Li-FT Power Ltd.

About LIFT

LIFT is focused on developing a portfolio of hard rock lithium assets in Canada, with core development assets in both Québec and the Northwest Territories. The Company owns the Adina-Galinée Lithium Project in the Eeyou Istchee James Bay region of Québec and the Yellowknife Lithium Project in the Northwest Territories. LIFT also holds early-stage exploration properties in both jurisdictions.

Cautionary Statement Regarding Forward-Looking Information

Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward-looking statements, including, but not limited to, statements relating to the terms, conditions and anticipated timing and closing of the Offering, the anticipated participation of Avenir in the Offering (though no assurance can be given that Avenir will participate in the Offering as expected, or at all), the intended use of the net proceeds of the Offering, and the receipt of all necessary approvals, including conditional approval of the TSXV in connection with the Offering. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this news release.

Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on April 27, 2026, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, in the Prospectus Supplement and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Globe Newswire

August 4, 2026 - 1:41 PM PDT

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